Dogecoin (DOGE): Is it Dead or Stepping Back for Its Next Jump?

Dogecoin has had an exciting bull run in the recent past due to Dogethereum, which controlled the community entirely, making DOGE gain value and be listed among the top 20 altcoins. In the most recent mass decline, DOGE experienced big losses on a weekly basis compared to its competitors. However, this highlighted decline might be a temporary case.

DOGE amazed the crypto world once it was able to gain a positive momentum of growth, rising steadily despite the projections and the market trends that were not accommodative by then.  The hype engulfing the Dogethereum bridge is the probable force behind the rise.

The Coinbase Submission

Some sources are suggesting that DOGE might be experiencing the losses because one of its core developers pointed out that the Dogecoin team failed to progress with the Coinbase submission, though they had earlier reported that they are in the process of submitting their request to Coinbase.

Indeed, Coinbase listing is an integral boast for DOGE in the crypto market since the exchange has nearly 20 million clients. The Dogecoin team claims that though they will attempt to be listed on Coinbase, they are issues with form completion since many of the questions are not applicable to the Dogecoin.

DOGE Now Accepted as a Stake for Loans on SALT Crypto Lender

One of the reasons suggesting that DOGE is ready for its next jump is the report that the coin is now accepted on SALT. SALT is a lending company that has far lent more than 50 million dollars in digital currencies. This is very important for traders and investors yearning to liquidate their portfolios.

The fact that DOGE is the forth cryptocurrency to be accepted as collateral is enough to indicate a new bull run for DOGE and eventually a high demand for the coin. This is the reason why I strongly believe that the latest decline in DOGE value might only be a temporary case.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
John Makori is a cryptocurrency writer with background in IT and journalism. He has lived in different countries, and settled in Canada. He has more than 4 years of experience working as a journalist with interest in Bitcoin and Cryptocurrencies. He’s passionate about learning Blockchain technologies’ potential to reshape all aspects of our lives. He joined TheOofy as a writer.